1832 Asset Management L.P. Takes Position in BB&T Co. (BBT)

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1832 Asset Management L.P. bought a new position in BB&T Co. (NYSE:BBT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 50,176 shares of the insurance provider’s stock, valued at approximately $2,180,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of BB&T by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after acquiring an additional 939,154 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of BB&T by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after acquiring an additional 939,154 shares during the last quarter. BlackRock Inc. lifted its stake in shares of BB&T by 8.3% during the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock worth $2,321,062,000 after acquiring an additional 4,086,502 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of BB&T by 6.8% during the 3rd quarter. Macquarie Group Ltd. now owns 14,406,134 shares of the insurance provider’s stock worth $699,273,000 after acquiring an additional 920,792 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of BB&T by 1.7% during the 4th quarter. Northern Trust Corp now owns 11,129,669 shares of the insurance provider’s stock worth $482,138,000 after acquiring an additional 181,065 shares during the last quarter. 64.13% of the stock is owned by hedge funds and other institutional investors.

In related news, Director I. Patricia Henry sold 2,289 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $51.51, for a total transaction of $117,906.39. Following the transaction, the director now directly owns 4,543 shares in the company, valued at approximately $234,009.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Patrick C. Graney III bought 3,890 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were acquired at an average price of $51.04 per share, for a total transaction of $198,545.60. Following the completion of the purchase, the director now owns 11,456 shares in the company, valued at $584,714.24. The disclosure for this purchase can be found here. Insiders own 0.51% of the company’s stock.

BBT opened at $47.14 on Friday. The firm has a market capitalization of $36.67 billion, a PE ratio of 11.64, a P/E/G ratio of 1.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.89 and a quick ratio of 0.88. BB&T Co. has a 12 month low of $40.68 and a 12 month high of $56.03.

BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.98 billion. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. Research analysts expect that BB&T Co. will post 4.29 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 13th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Tuesday, February 12th. BB&T’s payout ratio is 40.00%.

A number of equities research analysts recently issued reports on BBT shares. Argus reissued a “buy” rating on shares of BB&T in a research note on Friday, January 18th. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price target for the company in a research note on Friday, February 8th. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, January 2nd. Odeon Capital Group assumed coverage on BB&T in a research report on Friday, March 8th. They set a “buy” rating for the company. Finally, Barclays lifted their target price on BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. BB&T presently has a consensus rating of “Buy” and a consensus target price of $53.96.

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BB&T Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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